Did you stop to make an estimate of the amount of money being distributed if this scheme is implemented? A quick figure is 300,000,000 x 15,000 = 4.5 trillion bucks! The entire GDP of the US in 2014 was 17.4 trillion dollars. It appears that a tax rate of about 40% of the GDP would be required just to give out that much money, not counting defense, and all the other required government functions.
From the budget numbers I found on wikipedia it looks like the total tax taken in by the government would at least double in order to cover the distribution. I suspect that the burden upon the economy would be too great to sustain anywhere near the amounts we are considering. Perhaps someone can check my figures and see if they make sense. I am in favor of some type of system, but the numbers need to be reasonable. Dave -----Original Message----- From: Orionworks - Steven Vincent Johnson <[email protected]> To: vortex-l <[email protected]> Sent: Wed, Dec 10, 2014 10:07 pm Subject: RE: [Vo]:OT: what if everybody got free cash? Jed, Yousuggested our country should pay our citizens somewhere in the neighborhood$10,000. The idea would be that the amount, being modest would only be enoughto pay for the bare necessities - but not enough to actually live on unless groupsgot together and "roomed" together in a dwelling to split therent/mortgage, and/or to get jobs. I came to a similar conclusion myself sometime ago. We can quibble about how much might be considered a minimumguaranteed income everyone should be entitled to get, but I get the idea. Personally,I think I'd make guaranteed minimum income base closer to $15,000. I'mstill not sure about what kind of jobs such citizens would be willing to take. Youthink few if any would be willing to work at minimum wage. I'm not so sureabout that. I think there might be some would still work at a minimum-wage jobbecause they know it would nevertheless supplement their guaranteed baseincome. I'm also assuming such individuals might be somewhat disadvantaged (perhapsphysically or mentally) in some way and would feel they might not be capable ofgetting any kind of a better paying job. That said, I also hope the vastmajority would feel financially capable of looking for a far more satisfyingjobs that pay a decent wage to supplement their guaranteed income base. And,yes, the conservative sectors of our countries would most likely blow a gasket.Why? Just because they think it's wrong!!! It might help their blood pressureif we could find out how much the government might save through the dismantlingand streamlining of a number of welfare programs that currently cost billionsof dollars to fund each year. I assume many government hand-out programs wouldno longer be necessary to be funded, or certainly not at the level they are currentlymaintained at. Indeed, it might turn out to be cheaper. If the cost savingconcept could get through a conservative mindset I think they would quicklycapitulate and start claiming it was their idea all along. In any case, problemsolved. Hopefullymore and more countries will start experimenting with this guaranteed income program,and hopefully we will soon see additional evidence that suggests doing soactually benefits society far more than fearing it will drain the coffers ofthe country and/or lead to hyperinflation. Asfor me, I look forward to doing new kinds of work in my retirement. It will benice to be paid to do what I want to work on. Regards, StevenVincent Johnson svjart.orionworks.com zazzle.com/orionworks
